Ceiling Tiles Market is Set for Strong Growth, To Reach US$ 32 Billion by 2023


Posted November 28, 2019 by imarcgroup1

The global ceiling tiles market has witnessed positive growth over the past few years. This can be attributed to the growth in the construction industry, rising demand for recyclable building materials.

 
According to the latest report by IMARC Group, titled “Ceiling Tiles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global ceiling tiles market reached a value of US$ 22 Billion in 2017. Ceiling tiles, or ceiling panels, are lightweight construction materials which are used for covering ceilings. These tiles can be utilized with different ceiling types such as decorative, shed, tray, cathedral, vaulted, coved, domed and suspended ceilings. They are used for providing thermal insulation and improving the aesthetics and acoustics of a room. Generally installed in an aluminum grid, ceiling tiles are designed and manufactured in a wide range of patterns, shapes and sizes. According to the required performance and features, ceiling tiles can be made using processed, recycled or natural raw materials including starch, fiberglass, recycled newsprint and tin.

Request for a free sample copy of this report: https://www.imarcgroup.com/ceiling-tiles-market/requestsample

Market Trends:

The increasing demand for high-quality ceiling tiles is driven by a significant growth in the construction industry and rising popularity of recyclable building materials. In addition to this, several governments across the globe have initiated new public infrastructure projects that aim to develop city and town centers. Apart from this, an increase in the utilization of better interior solutions that offer improved noise absorption in departmental stores, educational institutions, offices and public utility areas is propelling the consumption of ceiling tiles. However, asphalt and mortar are considered better substitutes to ceiling tiles as these materials are easily available and incur lower costs. The rising availability of these materials may hamper the growth of the global ceiling tiles market. Despite this hindrance, the market is expected to reach a value of US$ 32 Billion by 2023, at a projected CAGR of more than 6% during 2018-2023.

Explore full report with table of contents: https://www.imarcgroup.com/ceiling-tiles-market

Insights on Market Segmentation:

Market Performance by Product Type:

1. Mineral Wool Ceiling Tiles
2. Gypsum Ceiling Tiles
3. Metallic Ceiling Tiles
4. Others

The market has been categorized according to different types of ceiling tiles which mainly include mineral wool ceiling tiles, gypsum ceiling tiles and metallic ceiling tiles. Amongst these, mineral wool ceiling tiles are the most popular choice among the consumers.

Market Performance by Application:

1. Non-Residential Applications
2. Residential Applications

On the basis of applications, the ceiling tiles market has been segmented into non-residential applications and residential applications. Currently, ceiling tiles are majorly used in various non-residential spaces such as restaurants, cafeterias and hotels.

Market Performance by Region:

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and Africa

On a regional basis, North America represents the largest market for ceiling tiles, holding the majority of the total share. North America is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape:

1. Market Structure
2. Key Players

The competitive landscape of the global ceiling tiles market has also been examined with some of the key players being SAS International, Rockfon, USG Corporation, Knauf, Cargill, Odenwald Faserplattenwek GmbH, Chicago Metallic Corporation, and Grenzebach BSH GmbH

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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Last Updated November 28, 2019